Zacks Research Upgrades Quantinuum (NASDAQ:QNT) to Hold

Quantinuum (NASDAQ:QNT) was upgraded by stock analysts at Zacks Research to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the company. Rosenblatt Securities started coverage on Quantinuum in a report on Monday. They set a “buy” rating and a $155.00 target price for the company. Bank of America started coverage on Quantinuum in a research report on Monday. They set a “buy” rating and a $100.00 price target on the stock. Mizuho initiated coverage on shares of Quantinuum in a report on Monday. They issued an “outperform” rating and a $90.00 price objective for the company. Cantor Fitzgerald initiated coverage on Quantinuum in a report on Monday. They set an “overweight” rating and a $90.00 target price for the company. Finally, TD Cowen began coverage on Quantinuum in a research note on Monday. They set a “buy” rating for the company. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $98.75.

Quantinuum Stock Performance

QNT opened at $78.41 on Tuesday. Quantinuum has a twelve month low of $50.10 and a twelve month high of $82.30.

Insiders Place Their Bets

In related news, Director Joseph Jimenez purchased 66,665 shares of the business’s stock in a transaction on Friday, June 5th. The stock was acquired at an average price of $60.00 per share, with a total value of $3,999,900.00. Following the completion of the acquisition, the director owned 72,498 shares of the company’s stock, valued at approximately $4,349,880. This trade represents a 1,142.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth D. Denman bought 14,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average cost of $60.00 per share, with a total value of $840,000.00. Following the acquisition, the director directly owned 19,833 shares in the company, valued at $1,189,980. This trade represents a 240.01% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last ninety days, insiders purchased 411,032 shares of company stock valued at $24,661,920.

About Quantinuum

Quantinuum is a quantum computing company focused on developing hardware and software for commercial and scientific applications. The company provides access to its quantum systems, along with software tools and services designed to help customers explore use cases in areas such as optimization, materials science, chemistry, cybersecurity, and machine learning.

The company was formed through the combination of Honeywell Quantum Solutions and Cambridge Quantum in 2021. Quantinuum operates internationally and serves a range of customers across enterprise, government, and research markets.